Royce & Associates LP Boosts Holdings in PC Connection, Inc. $CNXN

Royce & Associates LP boosted its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 11.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,288 shares of the company’s stock after buying an additional 7,996 shares during the quarter. Royce & Associates LP’s holdings in PC Connection were worth $4,580,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in PC Connection by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock worth $62,390,000 after buying an additional 10,218 shares during the period. Invesco Ltd. boosted its stake in PC Connection by 2.4% during the second quarter. Invesco Ltd. now owns 179,487 shares of the company’s stock worth $11,807,000 after buying an additional 4,146 shares during the period. Qube Research & Technologies Ltd boosted its stake in PC Connection by 71.3% during the third quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock worth $10,264,000 after buying an additional 68,906 shares during the period. AQR Capital Management LLC boosted its stake in shares of PC Connection by 12.6% during the second quarter. AQR Capital Management LLC now owns 139,881 shares of the company’s stock valued at $9,201,000 after purchasing an additional 15,623 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of PC Connection by 3.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 116,878 shares of the company’s stock valued at $7,245,000 after purchasing an additional 3,666 shares during the period. 42.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, PC Connection presently has a consensus rating of “Hold”.

PC Connection Trading Up 2.4%

Shares of CNXN opened at $69.59 on Friday. The firm has a market capitalization of $1.76 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.73 and a beta of 0.86. PC Connection, Inc. has a 12-month low of $54.97 and a 12-month high of $70.01. The firm has a fifty day moving average price of $62.98 and a 200-day moving average price of $60.77.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The firm had revenue of $721.87 million during the quarter, compared to analyst estimates of $696.09 million. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. Analysts predict that PC Connection, Inc. will post 3.93 earnings per share for the current year.

PC Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. PC Connection’s payout ratio is currently 23.26%.

PC Connection Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.